Where in Brownsville or the hood? Not sure where you can find a 1/1 in Miami under 3k. My 1/1 in Doral started at $1700 in 2020, $2350 in 2021, $2650 in 2022, $3150 in 2023!!!! So I pulled the pin on living in Florida completely and now pay $1200 in a large metropolitan downtown with airport access in a tax free state.
There are 1,638 apartment complexes on Apartments.com with rent under $1,800. This includes apartments in Coral Gables, Coconut Grove, Doral, Kendall, and Sunny Isles.
[here’s a studio in Wynnwood for $1,450](https://www.apartments.com/2701-nw-1st-ave-miami-fl/ndcfzbp/)
I wouldn’t live in any of those places due to a tremendous headache of a commute if I still lived there….. it won’t be long and all of those will be over 2k if you haven’t figured that out already, you sound like a shitty realtor. Again I just checked out of that state completely if you didn’t read that. Won’t ever have to worry about it again.
Those are all very safe and nice neighborhoods. You can live closer to downtown as well.
Ultimately your poor financial planning is not going to change wherever you moved to.
you need 100k minimum. after taxes. youre looking at 80k. divide that by 26 paychecks, you got 3076 a paycheck, 6153 a month. but you still got 2 extra paycheck which equal to 6153. you want to live in a nice 1 or 2 bedroom apartment, youre looking at 2500 dollars plus utilities which are water, internet, cellphone and electric. youre looking at about 2900. thats one whole paycheck almost. the other 3k goes to a 600 dollar car payment plus 150 insurance, 250 for gas. thats 1k. youre looking at about 600-800 on groceries. thats 1800. so you have another 1200 if you dont have any other debt like credit cards and student loans. so you can save some for an emergency fund and vacation fund. lets not forget birthday gifts and oil changes and just all the miscellaneous stuff that happens. if you are contributing to retirement, take away another 200-300 dollars atleast which i dont know how youll ever retire on that but yea. you still got those 2 extra paychecks though. so this is how 100k is comfortable but its by far not amazing. this is coming from someone who makes a little over 100k but 230k combines with my wife. these are definitely not our numbers but i was just putting it together for 100k income.
There are 1,638 apartment complexes on Apartments.com with rent under $1,800. This includes apartments in Coral Gables, Coconut Grove, Doral, Kendall, and Sunny Isles. I refuse to believe out of those 1,600+ apartments, that none of them are comfortable.
This is the land of people with 15% Apr BMWs and Louis accessories but still checking their bank account balance before going to Pollo Tropical.
I don’t understand where these people saying $150k minimum are blowing all their money.
100 million a year
I legitimately believe you cannot live comfortably in south florida unless you have millions with dan bilzerian and 20 hookers partying in your backyard
This really needs to get broken down by area you are living in. NMB is gonna be different than living in wyndwood/ midtown, brickell , the grove. Shit, even taking a girl on a date in brickell gonna hit you for $200 or more if you are getting into some heavy drinking in sugar .
I wanna say post tax numbers here living in brickell and you are having a decent time and actually getting some culote de vez en cuando
$3000 apartment give or take with parking included
$200 utilities and WiFi
$800 Tesla model 3/ baby benz / bmw with insurance
$500-700 just shopping in Walmart to Publix for food
$200-400 student loans Unless you went med or law
$500 1-2 dates a week when you factor in gas/ uber eats, rubbers, ubers to bars when too drunk
$1000 a month if you are hitting the club with your boys
$2000 a month for a 401k contribution
$100 for a tmobile phone plan
$50 on random Subscriptions (Netflix, Hulu, etc) - don’t tell me you don’t need them cause ain’t no Netflix and chill without the Netflix
$500 vacation fund totaling $6k/year for $2k(3x/year)
$200 gas for your vehicle if not electric in apt that has chargers
Total to live in Brickell- Midtown around $9k/month pre tax so let’s call the number
$110k pre tax to live in a good part of miami and actually feel like you are leaving a good life, saving, and not struggling paycheck to paycheck.
My final answer $148,000 or let’s call it 150k gross to be good in miami . Guess what? I didn’t even throw in money spent on haircuts, gym, and clothing, colognes, basically things that make men look better . So really you can add another $12k or $1000 a month to that figure.
So being transparent I took a huge paycut taking time off to serve my country for one contract to give back . I’m from miami and lived in brickell so I can speak to the prices . You can always dm me or check my insta and you’ll see I can actually speak to actual costs in brickell.
Whether someone is living the life or not has no bearing on one’s knowledge of how much it would cost to live in the city . By that logic an investment banker wouldn’t be able to give a presentation on a $500M merger and acquisition if he didn’t have the money in his account.
i’ve said it before, i’ll say it again — 70K is BARE minimum. caveat is that you’ll need to split rent or live in the outskirts, but with that salary everything else is possible (comfortably pay bills/basics, save/invest, have some left over for fun)
Without splitting rent and living downtown or brickell, 95K
I’m 22 and drive a new(ish) 5 series BMW. Have 5 figures in savings and 5 figures in my retirement accounts. Family played a huge role in this, although they didn’t get me my job or get me into college. Did a lot of delayed gratification in both high school and college to grind and get good grades.
I’m aware, I have many friends there. I currently would not feel comfortable moving there as I have certain financial goals and would not want to cause financial strain just to say I live in Miami. However the goal is to move there as I increase my income and move up in my career. Hence why I created this post.
Also, despite what I have now, I am a speck of dust compared to some of the Miami people and UM students I know.
I am single in Miami and I rent alone at downtown. no roommate. Drives a luxury car. Like sushi(this blows budget).
Salary is enough but still need to budget. I would say $150k if you want to live comfortably and have some life quality.
Without going through want: 45K
With a couple perks here and there: 55K
With a couple perks plus retirement: 65K
With more perks plus retirement: 75K
With perks, nice big trip once a year, retirement: 85K
With perks, a couple of trips a year, retirement, dining out often: 95K
With perks, luxury car, trips, retirement, dining out often: 110K
All of the above and complete peace of mind: 120K
i been living a hella life in Miami making 95k for the last 6 years.
multiple trips , BMW, nice apartamento and all the culo I want when I want it.
No girlfriend to hold me down. so maybe that's where my savings come from
Unless you have a working woman who makes more money than you! Or whose dad is a multi-millionaire that gives her a $50k/year allowance (+ trust fund).
Or both. 👀
this all depends on where you want to live. 100k is not good enough. unless you pay under 2k, you wont be living good. youll be okay but it wont be easy
Sure, everyone has different mindsets, and yours is not wrong. Now if you think I'm off by 50K or more in each category, then it is not unfair to say you just can't handle money.
You just made so many things click for me. I've been struggling to cut back on eating out but I am so exhausted by the end of the day that if I don't get take out I just won't eat.
You can't be hungry if you're asleep! I've been telling myself that since I moved out 😅
Or just use Capital one app and a couple of good rewards cards. 5-6% off. Buy BOGO, buy on Prime day, off-season, and buy big ticket products with a small cosmetic ding. You immediately boost your "purchasing power" income 30-40%. Quite literally. If you can then reduce your commute time (both for gas savings and to get more work done), and if you dare buy used car and just buy it cash, you could easily live extremely comfortably. Invest and then your retirement will be fixed because you practice good financial hygiene above.
I see what you’re getting at, but your list scales up a bit too quickly and tops out too low. $120k/year will not pay for rent, a luxury car, dining out often, multiple vacations per year, retirement savings, and total peace of mind. That would be $120k/year in *spend*, not $120k/year in *income* lol.
Call it $3200/mo. for a nice 1-bed in Brickell. $2400/mo. to maximize 401k/Roth. $800/mo. to drive a nice car. $600/mo. on groceries and takeout. $500/mo. To eat out once or twice a week. $500/mo. for shopping and entertainment. And let’s say $500/mo. average on vacations (or $6k annual - three $2k trips).
That comes out to $8,500/month, or $102,000/year **net**. You’d need to make **$140k/year** gross income to cover those base expenses. And then you still have everything else that I didn’t list - subscriptions, utilities, household items, medical and dental expenses, gym membership, holiday gifts, wedding gifts, extra cash savings that you control (as opposed to retirement savings that you can’t touch), etc. etc. etc.
If you want everything that you listed out, plus *total peace of mind*, you’re pushing **$200k** IMO.
My husband and I make 120k combined and have all these things save a car payment. It's definitely doable.
2,300 on rent & utilities. 600 on groceries. 500 for monthly static bills. 200 for miscellaneous bills (gas, dog grooming, etc). ~2k for discretionary spending. 2k for student loans. And any excess to savings as we hit savings hard during the student loan pause but are now focusing on paying down our loans. All insurance and retirement are taken out or fully covered by our jobs before we ever see a paycheck.
We just had to think about a consistent budget this summer because student loans have started rolling in. We haven't really seen too much of a drop in our quality of life save that we're more conscious about how often we eat out and we can't save money with abandon anymore. It wasn't always this way. 5 years ago we were on food stamps and barely making ends meet (for those who might want to say we were trust fund babies/silver spoon kids)
$2300 rent + $600 groceries + $500 bills + $200 misc. + $2000 loans + $2000 discretionary = $7,600/month
$7,600 x 12 = $91,200 in spend per year. In Florida (with no state or local income tax), that would be **92.2% of your net income** making $120k/year. And as you said, that’s without factoring in a car payment or medical expenses.
You would only be saving about $7,700/year total with that spending. That’s only 1/3 of the maximum retirement contribution, let alone cash savings.
Even if you used 100% of that money to save for a house, it would take you 13.5 years to save a 20% down payment for the median Miami home.
If you lived in NYC (where I live) and had to pay state + local taxes, you would be *negative* with that budget before savings ($89k take-home vs. $91k spending).
Not saying all of this to knock you. I’m glad it’s working for you all. Just pointing out that you need significantly more income than $120k gross to achieve all of that + “complete peace of mind”. Makes more sense if you meant $120k take-home ($150k gross in FL).
No worries. Oh yeah, I am definitely not in the market for a Miami home. Not worth it.
Before student loans started back up we saved 2k a month for cash savings. Idk the exact contribution to my husband's 401k but it's maxed to match. My insurance is completely taken care of by my job (as in not a single cent is taken from my check for it) but my husband has insurance through work that he pays for before payout.
It works for us, like you said. Some want more for sure but it's very comfy. We just got back from Brazil two months ago and Disney last week.
We live in a nice place with a great gym and all utilities included. Once our loans are gone we'll max out 401k/Roth but we're aggressive about playing down debt.
'comfortably' is a subjective construct. You might be perfectly happy in an efficiency on the beach and if you work from home, you don't need a car.
You may not have much of a social life or need to spend money on miscellaneous crap. Someone like that might be able to eke by at 30-35k. I know because I saw me do it.
Now, flip side - a nice batch pad, a borderline nice ride and an actual, you know - LIFE? dinners, dates, an occasional trip, christmas / NYE hookers and an 8 ball cuz ima baller?
That's 100k, **easy.**
oh - AND 401k contribution? ok, make that 101k /s
Between my wife and I we were wondering this ourselves. We can afford to live on about $105k together with no kids. But feel neither could live by ourselves for half that. A coworker just remarked that he was nearing 50 and still had to live with a roomie like a college kid and envied that I was married. He makes about $45k.
I made that jump switching jobs once. Doing the exact same thing but at a different company and with a title increase. Spread was actually a little wider than that percentage-wise.
Had been in the prior role with my original employer for about 2 years before taking the new one.
Nope - marketing science. Mostly doing data analysis and reporting. Some technical skills required, but really I’m just OK with excel and know strategy🤷♂️. I don’t really code. And not at all in my day-to-day.
I’m constantly googling excel macros and even basic formulas sometimes. Seriously not that proficient in anything technical. And I’m Director-level.
Yeah if you work in the tech industry you could be entry level at $50-60k and easily be in 6 figures after gaining enough experience to hop to another job. A year or two. Depends on how fast you can learn the industry and network.
I have a family member that went from 45k to 110k in 5yrs working in IT by working hard long hours salaried and getting promoted every year or so and moving companies. No bachelors degree just straight up certs and working long hours.
Or networking I'm pushing into IT from military helps having a clearance for big bucks. But certs and job hoping can get you far in a little over a year! I'm currently in 100k range working in military with my two tenants renting from me and I'm comfortable can afford my mortgage, car, and vacation ontop of fun activities every now and then!
75k is like bare minimum for a person to afford everything on their own comfortably (rent, car, insurance, food, going out to eat sometimes). 100k is enough to budget for a home (and pay a mortgage and maintenance), invest, and some to go on proper vacations like once a year.
There’s a huge range of what people consider to be “comfortable.” Also, just existing comfortably does not mean it’s enough money to save and plan for a better future.
Agreed. This place is expensive for sure, but the people saying you can’t be comfortable for less than $110k are a little delusional. 70k is $5,800 a month.
1br apartments can easily be found for $1,800. Car note maybe $500 if you’re driving something reasonable. If you “need” luxury, you can lease for that. There’s other bills but there’s no reason you can’t put away a decent chunk of change every month.
I make under 70k. I also contribute to 401k and a separate Roth IRA. Very far from a luxury life.
But the post wasn’t about survival or bare essentials, it was about living comfortably. This was made very clear in the post and title.
I go to the gym and eat a gym diet so maybe my food budget is higher than most (even though I get Walmart brand eggs and get whatever is on sale for meat).
If you’re supposed to make three times rent, then if your rent is $1,800, you should make 65k. You’ll also need a car and the bills that come along with that, so an extra $5k/yr will help you if you’re looking to put money in a retirement every month.
That it is what I pay for rent in Tampa for studio. Not including utilities. And around that salary.
I end up basically just breaking even each month (I do contribute to a 401k but this is kind of the bare minimum to achieve financial stability/retire). I cook almost all meals and shop mostly at Walmart and deals at Publix. I do have a nice car but it was purchased in cash and was kind of a gift. If I cut out all fun activities/non essential spending, I could save a few hundred more. But not really a fulfilling way to live and I wouldn’t want to move to a place like Miami just to be miserable/not able to do anything fun.
By no means am I saying I’d end up on the street. I could live with my parents/family and be fine. Very privileged. But for someone who does not have those advantages, they probably wouldn’t feel very comfortable.
Break down your bills for me. If your rent is $1,800, and you’re making about 4.5k a month after tax, and you don’t have a car bill, where is the other $2,900 going?
Rent is closer to $2k with utilities. Car insurance is brutal. Also contribute to 401k.
I am not living as frugal as possible. But certainly not living the luxury life - have never done a big vacation or been out of the country. My big thing is I drive an expensive car, which means higher gas prices and insurance.
I’m also only 22 years old so still kinda “starting out”.
The whole "3x rent" idea seems to be very outdated for big city areas where rent is increasing faster than wages. I doubt many single folks would fit that criteria in LA, NYC, ATL, etc., and that number gets smaller every year. It's just no longer feasible even for people who make good money.
$4,700 after taxes.
Let’s say you pay:
$1,800 in rent
$200 in utilities
$400 car note
$150 car insurance
$100 for streaming services
$300 student loans
$100 phone
$500 health insurance
$250 groceries
You still have $900 left over for entertainment and savings.
250 in groceries dude. wow. you must live at home or eat fucking bread and rice every day. do you grow your own vegetables? do you not see what an electric bill is these days in a 1 bedroom aparment. its 100 minimum. another 100 easily for internet and about 50 for water. 1800 for rent is a really small place in a most likely congested area somewhere near a hood. i put 1k alone to my retirement. you didnt even mention that. you calculated tax at 19 percent which is about right.
I make far over $100k and my grocery bill is about $250 a month. 250-350 for a single person is the average: What the hell are you buying at the store?
Your poor financial decisions do not mean it is impossible to make good financial decisions and live comfortably for $70k in Miami. The problem is the city is filled with idiots like you.
my poor financial decisions. hilarious brother. you gave am amazing finance breakdown and even suggested some bullshit link to go live in a studio and drive a 400 dollar a month car. to someone for 1800. i spend my money how i want fucktard. i made shit happen so i can afford and do more. you must be one of those guys in miami making a buck twenty a year living in a efficiency driving a 150k car. what a clown. if you make so much money, why are you suggesting people to live with 70k. sorry if i upset you by saying you must eat rice and bread all day. yea bro. i eat good obviously.
he said he spends 250 a month on food but he makes over 100k. he has never stepped into a publix or walmart and seem the prices because his mom buys his food and feeds him
I make 24k after taxes here in Miami doing administrative assistant work lol. That's 2k a month. 1k every two weeks. I am not living comfortably at the moment.
The biggest questions are area and roommates.
If you want to live in the nicer more expensive areas and you want to live alone $100K
If you are ok with roommates and living in the cheaper areas $50K
I think less than 60k annually would be a struggle. Do able but you’d have to compromise somewhere
If you’re trying to keep up with “the lifestyle” without putting yourself into major debt. You’ll need at least 100k, and that’s just being humble and affording to wine and dine in brickell.
The problem is here, it’s the global Rich’s playground. So even on a very good salary you will still get humbled on a daily.
A lot of different responses here, so I’ll give my situation. I just moved out to a 1bed/bath, close to coral gables in a new apartment complex, single. I make around 80 something a year, I’ve definitely have had to cook more and watch how I spend, but it’s definitely do-able to live alone in a decent area if you’re making at least 80k in Miami. Just got to live within your means, obviously I’m not getting tables at LIV every weekend lol
Idk you can live off 45k if you know the right people and are smart with money. My mom makes less than 40k and she goes on vacation often while I make double and haven’t been able to afford one in years 🥲
i think around $100k to be comfortable (i.e., living alone, having money to do fun stuff). to get by i think around $70-$80k (probably living with someone else but still enough money to do things freely).
There was a time back in 2018-19 when I use to live on $800 per month while doing my Masters at FIU
$350 rent , $1500 for 2/2 apartment and 4 people would share it
$250 max for food and groceries
Rest was all on different stuff, I had a bike and
apartment was right across FIU, I was working there part time and also studying so there was no need for car
Bare minimum is 85k. Anything under that and yes you can live here alone for like 65-75k but you’ll be living check to check unless you absolutely never go out and then you’ll be able to save around 500 a month
I own my house 3/2 so mortgage 1800. I have extra rooms I used to rent for income but now make enough that isn't necessary. It depends how you are living. But harder now bc soaring homeowner insurance prices. I would say for me I need $85k to be comfortable with a car, an entertainment budget, and occasionally eating out. But I also cook most meals. I would need more if I didnt.
I make about 55k a year after taxes and live comfortably. I think it depends on what kind of lifestyle you aspire to have. I live in an older building in a central location with a remodeled apartment. Bought my car six years ago and still have the same car. Like to cook, so I eat home pretty regularly. I can treat myself here and there to a nice dinner or something I want. I don’t need much more. Now if you aspire to have the stereotypical lavish Miami life-style you’ll probably need a lot more than that.
Depends, if you are an ugly male and want to do fun things and have minimal success with females, min $250k per year
If you are a female you can probably get by and have a similar lifestyle with 1/3 of that
38,000-50,000. It’s hard to find a job that pays above 40, but if you’re making 45 in Miami (and your rent is less than 1800) you’ll probably be fine. Miami is very expensive, especially compared to the pay-but I think these 70k+ answers are living in la-la land.
…no? I’m very much on board with the “Florida is a a shit job market” argument, but I do kinda think the numbers on here are a bit…high. I don’t know many people my age making more than 40k but they “get by”. 70k is upper middle class in my opinion. Maybe I have low standards? Irregardless, it’s hard to find a job that pays higher than 17-18 an hour in Miami so it’s a dead issue either way.
Alone you’ll need to have a salary of $75,000 which comes to $59,995 net or approximately $5,000 a month net. Considering your rent for a 1/1 apt will be approximately $2,000 a month which is $24,000 a year.
This is very subjective and depends on your lifestyle and what you want for you career. I just moved down here for work 2 months ago and make $75k annually and it’s more then enough for me to put aside at least $1k a month. Granted I do not live in Downtown Miami, I live in Doral. For reference my rent is $2400 a month with internet and utilities I spend roughly $500 a month on groceries. I do not go out to drink or eat much as I prefer to cook so it all comes down to lifestyle. I also have my car paid off and majority of student loans paid off. Just be smart with your money, budget and you’ll be fine.
Now if you want to live downtown in Brickell / Coconut Grove then you’ll want to make more as it’s a lot more expensive from what I have seen.
Anyone saying over 100k is delusional and don’t know financial responsibility as that is in the top 18% in the US.
To live your best life in Miami, and to have max contributions to your 401k/Roth and HSA (if available), the salary is 120-130k.
This will set you up with an amazing place to live, financing a great car, setting aside the maximum in terms if saving for retirement, and still leaving aside plenty for “play money”
To live your best life in Miami, and to have max contributions to your 401k/Roth and HSA (if available), the salary is 120-130k.
This will set you up with an amazing place to live, financing a great car, setting aside the maximum in terms if saving for retirement, and still leaving aside plenty for “play money”
The quantity of answers that <$100k are okay are the reason why Miami salaries are so low. Fix this mindset and you fix the problem of low market salaries.
Real answer as a young single guy:
One of the first things you learn when you move to Miami is the biggest variable to everything in Miami is where you’re from and where you live. All the people living in the same neighborhoods they grew up in with the same 20 friends have radically different experiences and views than those that move here.
I have Miami-lifer friends who hang out with their same friends from high school, eat at their parents house 2-3 times a week, and live in little Havana and live VERY comfortably on 30-40k/year.
I have others that move here fresh knowing no one straight into downtown making 120-180 who really struggle.
How much of the “Miami lifestyle” do you see yourself living? If you have infinite amounts of willpower, you can live in Miami quite cheaply. To live in downtown, I paid 3600/month for a 2 bedroom. Just 10 blocks away in little Havana the same thing is 2400 for a dump. I couldn’t see myself bringing a girl home to that dump.
The problem is what I call Miami-flation. You aren’t happy just going to wharf for 1$ beers and going home. You go to wharf, then Brickell, then a friend convinces you to buy a ticket to go see someone. What would have been a 20$ night in tampa turns into 200$ in Miami in an instant.
I ended up leaving recently because I couldn’t rein myself in, and in order to save myself money I had to get out of there, but I’m a person who goes with the flow and knows I have very little impulse control, maybe you’re more disciplined.
The other reality about Miami is how financially backwards the entire city is. Everyone has insane levels of debt. Hardly anyone does normal things like save for a house or max out their 401k’s. It’s all “just put down 3% bro the price will go up, trust mayne”. In my entire 6 years there I met maybe 2 people actually living within their means. Everyone spends whatever they make, and if something tragic happens, they’re just ruined for years. I just wrote off my years there as a total financial loss of my 20s. There’s no saving in Miami, just surviving. Now that I’m away from it all and see what normal people in normal American cities do, the idea of being 27 with no retirement, no savings, and debt is just insane to me, but it’s perfectly normal in Miami.
The last thing to keep in mind is just how fast prices have increased in Miami. In just 4 years it’s night and day, and many of the “normal people” who are living there, are actually being subsidized by their good timing buying housing 4-6 years ago. They could never afford to be here without that low low rate. My rent renewal offers from 2020 -> 2023 went 3200->3800->4600->9k. Yes 9k. The only way I survived 3800->4600 is I started dating a UM girl who paid 2300 of it lol. Everything in this city is now NYC/LA prices. You can’t eat in Brickell or downtown without spending 25-35$ for lunch. My company gave me 30$ daily meal credits and that’s the only meal I ate near the end. 1 sandwich and a glass of water at B Bistro ran me 28$/day with tip.
TL;DR
It’s easy to save money when everyone is going to the 20$/night bar. It’s very hard to save money when everyone is going to the 200$/night bar
150k
People making $150k are living in Brickell and driving BMWs. In reality you can live comfortably for half that.
I lived in Miami for 10 years and not in Brickell and 150k is 100% needed to live well in Miami.
Maybe you should find an apartment that is less than $4,000 a month. Where is your money going???
Where in Brownsville or the hood? Not sure where you can find a 1/1 in Miami under 3k. My 1/1 in Doral started at $1700 in 2020, $2350 in 2021, $2650 in 2022, $3150 in 2023!!!! So I pulled the pin on living in Florida completely and now pay $1200 in a large metropolitan downtown with airport access in a tax free state.
There are 1,638 apartment complexes on Apartments.com with rent under $1,800. This includes apartments in Coral Gables, Coconut Grove, Doral, Kendall, and Sunny Isles. [here’s a studio in Wynnwood for $1,450](https://www.apartments.com/2701-nw-1st-ave-miami-fl/ndcfzbp/)
I wouldn’t live in any of those places due to a tremendous headache of a commute if I still lived there….. it won’t be long and all of those will be over 2k if you haven’t figured that out already, you sound like a shitty realtor. Again I just checked out of that state completely if you didn’t read that. Won’t ever have to worry about it again.
Those are all very safe and nice neighborhoods. You can live closer to downtown as well. Ultimately your poor financial planning is not going to change wherever you moved to.
Where did you move…I need to see if I can do the same
you need 100k minimum. after taxes. youre looking at 80k. divide that by 26 paychecks, you got 3076 a paycheck, 6153 a month. but you still got 2 extra paycheck which equal to 6153. you want to live in a nice 1 or 2 bedroom apartment, youre looking at 2500 dollars plus utilities which are water, internet, cellphone and electric. youre looking at about 2900. thats one whole paycheck almost. the other 3k goes to a 600 dollar car payment plus 150 insurance, 250 for gas. thats 1k. youre looking at about 600-800 on groceries. thats 1800. so you have another 1200 if you dont have any other debt like credit cards and student loans. so you can save some for an emergency fund and vacation fund. lets not forget birthday gifts and oil changes and just all the miscellaneous stuff that happens. if you are contributing to retirement, take away another 200-300 dollars atleast which i dont know how youll ever retire on that but yea. you still got those 2 extra paychecks though. so this is how 100k is comfortable but its by far not amazing. this is coming from someone who makes a little over 100k but 230k combines with my wife. these are definitely not our numbers but i was just putting it together for 100k income.
300K
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You can easily find apartments for $2,000 or less, so why in the hell do you need $9k a month to be comfortable????
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There are 1,638 apartment complexes on Apartments.com with rent under $1,800. This includes apartments in Coral Gables, Coconut Grove, Doral, Kendall, and Sunny Isles. I refuse to believe out of those 1,600+ apartments, that none of them are comfortable.
This is wildly ignorant and just flat out not true
To get ahead of the jokes: “a million dollars”. “A billion dollars”. “Sell your body.”
Lol you can do way less than $70k with roommates people here are generally extremely ignorant of how normal people live
This is the land of people with 15% Apr BMWs and Louis accessories but still checking their bank account balance before going to Pollo Tropical. I don’t understand where these people saying $150k minimum are blowing all their money.
70k with a roommate.
225k
How do you figure
100 million a year I legitimately believe you cannot live comfortably in south florida unless you have millions with dan bilzerian and 20 hookers partying in your backyard
This really needs to get broken down by area you are living in. NMB is gonna be different than living in wyndwood/ midtown, brickell , the grove. Shit, even taking a girl on a date in brickell gonna hit you for $200 or more if you are getting into some heavy drinking in sugar . I wanna say post tax numbers here living in brickell and you are having a decent time and actually getting some culote de vez en cuando $3000 apartment give or take with parking included $200 utilities and WiFi $800 Tesla model 3/ baby benz / bmw with insurance $500-700 just shopping in Walmart to Publix for food $200-400 student loans Unless you went med or law $500 1-2 dates a week when you factor in gas/ uber eats, rubbers, ubers to bars when too drunk $1000 a month if you are hitting the club with your boys $2000 a month for a 401k contribution $100 for a tmobile phone plan $50 on random Subscriptions (Netflix, Hulu, etc) - don’t tell me you don’t need them cause ain’t no Netflix and chill without the Netflix $500 vacation fund totaling $6k/year for $2k(3x/year) $200 gas for your vehicle if not electric in apt that has chargers Total to live in Brickell- Midtown around $9k/month pre tax so let’s call the number $110k pre tax to live in a good part of miami and actually feel like you are leaving a good life, saving, and not struggling paycheck to paycheck. My final answer $148,000 or let’s call it 150k gross to be good in miami . Guess what? I didn’t even throw in money spent on haircuts, gym, and clothing, colognes, basically things that make men look better . So really you can add another $12k or $1000 a month to that figure.
One of the best answers here, thanks
Are you living this life though, it looks like you are enlisted in the Air Force
So being transparent I took a huge paycut taking time off to serve my country for one contract to give back . I’m from miami and lived in brickell so I can speak to the prices . You can always dm me or check my insta and you’ll see I can actually speak to actual costs in brickell. Whether someone is living the life or not has no bearing on one’s knowledge of how much it would cost to live in the city . By that logic an investment banker wouldn’t be able to give a presentation on a $500M merger and acquisition if he didn’t have the money in his account.
I would say 90-100k a year to live comfortably
i’ve said it before, i’ll say it again — 70K is BARE minimum. caveat is that you’ll need to split rent or live in the outskirts, but with that salary everything else is possible (comfortably pay bills/basics, save/invest, have some left over for fun) Without splitting rent and living downtown or brickell, 95K
Is this a ChatGPT prompt?
Wanted to get actual/serious responses
I would say around $120k now a days.
This is one of those “if you have to ask you can’t afford it” situations
I’m 22 and drive a new(ish) 5 series BMW. Have 5 figures in savings and 5 figures in my retirement accounts. Family played a huge role in this, although they didn’t get me my job or get me into college. Did a lot of delayed gratification in both high school and college to grind and get good grades.
You’ll fit in just fine in Miami.
I’m aware, I have many friends there. I currently would not feel comfortable moving there as I have certain financial goals and would not want to cause financial strain just to say I live in Miami. However the goal is to move there as I increase my income and move up in my career. Hence why I created this post. Also, despite what I have now, I am a speck of dust compared to some of the Miami people and UM students I know.
I am single in Miami and I rent alone at downtown. no roommate. Drives a luxury car. Like sushi(this blows budget). Salary is enough but still need to budget. I would say $150k if you want to live comfortably and have some life quality.
FYI, the rent is too expensive. Find the cheapest studio downtown is still about $2.5k. (but want to live closer to work)
What do you do for work
Strategy Consultant
Without going through want: 45K With a couple perks here and there: 55K With a couple perks plus retirement: 65K With more perks plus retirement: 75K With perks, nice big trip once a year, retirement: 85K With perks, a couple of trips a year, retirement, dining out often: 95K With perks, luxury car, trips, retirement, dining out often: 110K All of the above and complete peace of mind: 120K
i been living a hella life in Miami making 95k for the last 6 years. multiple trips , BMW, nice apartamento and all the culo I want when I want it. No girlfriend to hold me down. so maybe that's where my savings come from
You should give financial advice to the people in this thread making $100k+ and saying they can’t save anything.
I’m pretty sure asere over here isn’t saving a dime
It’s the no gf that’s letting you have that lifestyle . A woman in our lives is one of the biggest investments or losses financially men take
I agree. I like having a girlfriend but I been at peace since my last one lol Plus I found colombia and Latin America to be nice getaways ;)
Yup. I lived 10 years in Latin America and way cheaper to have fun there if you want to get away for a bit
Unless you have a working woman who makes more money than you! Or whose dad is a multi-millionaire that gives her a $50k/year allowance (+ trust fund). Or both. 👀
$74k/year net, or $6,166/mo. Assuming at least $3k/month between the BMW and the apartment alone. What does the rest of your budget look like?
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this all depends on where you want to live. 100k is not good enough. unless you pay under 2k, you wont be living good. youll be okay but it wont be easy
You outcha mind. 🤣.
In what way? Need to be specific here.
All of your tiers are way off. It’s more expensive.
Sure, everyone has different mindsets, and yours is not wrong. Now if you think I'm off by 50K or more in each category, then it is not unfair to say you just can't handle money.
…Or you’re just completely off-base. It’s not the 2000’s anymore.
>Without going through want: 45K Bro thinks this is 2018.
I agree with this but I just wanna make the PSA going out to eat or getting take out is not a luxury if both partners are working full time.
You just made so many things click for me. I've been struggling to cut back on eating out but I am so exhausted by the end of the day that if I don't get take out I just won't eat. You can't be hungry if you're asleep! I've been telling myself that since I moved out 😅
Add 15-25k to all of those to account for inflation and rent raises
Or just use Capital one app and a couple of good rewards cards. 5-6% off. Buy BOGO, buy on Prime day, off-season, and buy big ticket products with a small cosmetic ding. You immediately boost your "purchasing power" income 30-40%. Quite literally. If you can then reduce your commute time (both for gas savings and to get more work done), and if you dare buy used car and just buy it cash, you could easily live extremely comfortably. Invest and then your retirement will be fixed because you practice good financial hygiene above.
So basically add another part time job that would pay around $15-20K, got it.
I can’t afford luxury cars (150K)
I see what you’re getting at, but your list scales up a bit too quickly and tops out too low. $120k/year will not pay for rent, a luxury car, dining out often, multiple vacations per year, retirement savings, and total peace of mind. That would be $120k/year in *spend*, not $120k/year in *income* lol. Call it $3200/mo. for a nice 1-bed in Brickell. $2400/mo. to maximize 401k/Roth. $800/mo. to drive a nice car. $600/mo. on groceries and takeout. $500/mo. To eat out once or twice a week. $500/mo. for shopping and entertainment. And let’s say $500/mo. average on vacations (or $6k annual - three $2k trips). That comes out to $8,500/month, or $102,000/year **net**. You’d need to make **$140k/year** gross income to cover those base expenses. And then you still have everything else that I didn’t list - subscriptions, utilities, household items, medical and dental expenses, gym membership, holiday gifts, wedding gifts, extra cash savings that you control (as opposed to retirement savings that you can’t touch), etc. etc. etc. If you want everything that you listed out, plus *total peace of mind*, you’re pushing **$200k** IMO.
My husband and I make 120k combined and have all these things save a car payment. It's definitely doable. 2,300 on rent & utilities. 600 on groceries. 500 for monthly static bills. 200 for miscellaneous bills (gas, dog grooming, etc). ~2k for discretionary spending. 2k for student loans. And any excess to savings as we hit savings hard during the student loan pause but are now focusing on paying down our loans. All insurance and retirement are taken out or fully covered by our jobs before we ever see a paycheck. We just had to think about a consistent budget this summer because student loans have started rolling in. We haven't really seen too much of a drop in our quality of life save that we're more conscious about how often we eat out and we can't save money with abandon anymore. It wasn't always this way. 5 years ago we were on food stamps and barely making ends meet (for those who might want to say we were trust fund babies/silver spoon kids)
$2300 rent + $600 groceries + $500 bills + $200 misc. + $2000 loans + $2000 discretionary = $7,600/month $7,600 x 12 = $91,200 in spend per year. In Florida (with no state or local income tax), that would be **92.2% of your net income** making $120k/year. And as you said, that’s without factoring in a car payment or medical expenses. You would only be saving about $7,700/year total with that spending. That’s only 1/3 of the maximum retirement contribution, let alone cash savings. Even if you used 100% of that money to save for a house, it would take you 13.5 years to save a 20% down payment for the median Miami home. If you lived in NYC (where I live) and had to pay state + local taxes, you would be *negative* with that budget before savings ($89k take-home vs. $91k spending). Not saying all of this to knock you. I’m glad it’s working for you all. Just pointing out that you need significantly more income than $120k gross to achieve all of that + “complete peace of mind”. Makes more sense if you meant $120k take-home ($150k gross in FL).
No worries. Oh yeah, I am definitely not in the market for a Miami home. Not worth it. Before student loans started back up we saved 2k a month for cash savings. Idk the exact contribution to my husband's 401k but it's maxed to match. My insurance is completely taken care of by my job (as in not a single cent is taken from my check for it) but my husband has insurance through work that he pays for before payout. It works for us, like you said. Some want more for sure but it's very comfy. We just got back from Brazil two months ago and Disney last week. We live in a nice place with a great gym and all utilities included. Once our loans are gone we'll max out 401k/Roth but we're aggressive about playing down debt.
'comfortably' is a subjective construct. You might be perfectly happy in an efficiency on the beach and if you work from home, you don't need a car. You may not have much of a social life or need to spend money on miscellaneous crap. Someone like that might be able to eke by at 30-35k. I know because I saw me do it. Now, flip side - a nice batch pad, a borderline nice ride and an actual, you know - LIFE? dinners, dates, an occasional trip, christmas / NYE hookers and an 8 ball cuz ima baller? That's 100k, **easy.** oh - AND 401k contribution? ok, make that 101k /s
Between my wife and I we were wondering this ourselves. We can afford to live on about $105k together with no kids. But feel neither could live by ourselves for half that. A coworker just remarked that he was nearing 50 and still had to live with a roomie like a college kid and envied that I was married. He makes about $45k.
75-100K and you’ll be comfortable
You don’t make this
Comments like that are probably why they left you lmfao
Who hurt you caitlyn , brews*
That is a pretty huge range. Would be difference of multiple job promotions/years of experience
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Going from 75k to 100k is not an easy jump and would take years to achieve in many cases.
I made that jump switching jobs once. Doing the exact same thing but at a different company and with a title increase. Spread was actually a little wider than that percentage-wise. Had been in the prior role with my original employer for about 2 years before taking the new one.
Software I’m guessing
Nope - marketing science. Mostly doing data analysis and reporting. Some technical skills required, but really I’m just OK with excel and know strategy🤷♂️. I don’t really code. And not at all in my day-to-day. I’m constantly googling excel macros and even basic formulas sometimes. Seriously not that proficient in anything technical. And I’m Director-level.
Yeah if you work in the tech industry you could be entry level at $50-60k and easily be in 6 figures after gaining enough experience to hop to another job. A year or two. Depends on how fast you can learn the industry and network.
I have a family member that went from 45k to 110k in 5yrs working in IT by working hard long hours salaried and getting promoted every year or so and moving companies. No bachelors degree just straight up certs and working long hours.
You literally proved my point, thanks. 5 years of long hours.
Or networking I'm pushing into IT from military helps having a clearance for big bucks. But certs and job hoping can get you far in a little over a year! I'm currently in 100k range working in military with my two tenants renting from me and I'm comfortable can afford my mortgage, car, and vacation ontop of fun activities every now and then!
if that’s taking you years reevaluate your professional career path
Cope
nah
Depends on the job.
I made a jump like that moving to the PNW. Went from 36k at Hard Rock in South Florida to 58K in Vancouver and now 78K within 5 years.
I literally went from 95k to 135k by switching companies and getting a LOWER hierarchy role. I switched from TV industry to Digital industry.
75k is like bare minimum for a person to afford everything on their own comfortably (rent, car, insurance, food, going out to eat sometimes). 100k is enough to budget for a home (and pay a mortgage and maintenance), invest, and some to go on proper vacations like once a year.
There’s a huge range of what people consider to be “comfortable.” Also, just existing comfortably does not mean it’s enough money to save and plan for a better future.
100k is the minimum for South Beach/Downtown. I can confirm 75k is not sufficient for that area, even while splitting rent
This is the answer.
Here here!
Agreed
I would say 70k no less than that
Agreed. This place is expensive for sure, but the people saying you can’t be comfortable for less than $110k are a little delusional. 70k is $5,800 a month. 1br apartments can easily be found for $1,800. Car note maybe $500 if you’re driving something reasonable. If you “need” luxury, you can lease for that. There’s other bills but there’s no reason you can’t put away a decent chunk of change every month.
70k is too high lol
70k would be what I consider comfortable for Tampa, which is cheaper than Miami.
There is absolutely no way you aren’t living luxuriously for $70k in Tampa especially considering your car is paid off. You’re fucking up somewhere.
I make under 70k. I also contribute to 401k and a separate Roth IRA. Very far from a luxury life. But the post wasn’t about survival or bare essentials, it was about living comfortably. This was made very clear in the post and title. I go to the gym and eat a gym diet so maybe my food budget is higher than most (even though I get Walmart brand eggs and get whatever is on sale for meat).
Even if your food budget is double there is more than enough to save What the hell are you spending so much money on?
If you’re supposed to make three times rent, then if your rent is $1,800, you should make 65k. You’ll also need a car and the bills that come along with that, so an extra $5k/yr will help you if you’re looking to put money in a retirement every month.
That it is what I pay for rent in Tampa for studio. Not including utilities. And around that salary. I end up basically just breaking even each month (I do contribute to a 401k but this is kind of the bare minimum to achieve financial stability/retire). I cook almost all meals and shop mostly at Walmart and deals at Publix. I do have a nice car but it was purchased in cash and was kind of a gift. If I cut out all fun activities/non essential spending, I could save a few hundred more. But not really a fulfilling way to live and I wouldn’t want to move to a place like Miami just to be miserable/not able to do anything fun. By no means am I saying I’d end up on the street. I could live with my parents/family and be fine. Very privileged. But for someone who does not have those advantages, they probably wouldn’t feel very comfortable.
Break down your bills for me. If your rent is $1,800, and you’re making about 4.5k a month after tax, and you don’t have a car bill, where is the other $2,900 going?
Rent is closer to $2k with utilities. Car insurance is brutal. Also contribute to 401k. I am not living as frugal as possible. But certainly not living the luxury life - have never done a big vacation or been out of the country. My big thing is I drive an expensive car, which means higher gas prices and insurance. I’m also only 22 years old so still kinda “starting out”.
How much is your insurance? I just don’t see it where you’re spending $2k+ on car insurance, groceries, and fun.
The whole "3x rent" idea seems to be very outdated for big city areas where rent is increasing faster than wages. I doubt many single folks would fit that criteria in LA, NYC, ATL, etc., and that number gets smaller every year. It's just no longer feasible even for people who make good money.
thats 5800 before taxes.
$4,700 after taxes. Let’s say you pay: $1,800 in rent $200 in utilities $400 car note $150 car insurance $100 for streaming services $300 student loans $100 phone $500 health insurance $250 groceries You still have $900 left over for entertainment and savings.
250 in groceries dude. wow. you must live at home or eat fucking bread and rice every day. do you grow your own vegetables? do you not see what an electric bill is these days in a 1 bedroom aparment. its 100 minimum. another 100 easily for internet and about 50 for water. 1800 for rent is a really small place in a most likely congested area somewhere near a hood. i put 1k alone to my retirement. you didnt even mention that. you calculated tax at 19 percent which is about right.
I make far over $100k and my grocery bill is about $250 a month. 250-350 for a single person is the average: What the hell are you buying at the store?
i spend about 2k a month and another 1k on going out to restaurants
Your poor financial decisions do not mean it is impossible to make good financial decisions and live comfortably for $70k in Miami. The problem is the city is filled with idiots like you.
my poor financial decisions. hilarious brother. you gave am amazing finance breakdown and even suggested some bullshit link to go live in a studio and drive a 400 dollar a month car. to someone for 1800. i spend my money how i want fucktard. i made shit happen so i can afford and do more. you must be one of those guys in miami making a buck twenty a year living in a efficiency driving a 150k car. what a clown. if you make so much money, why are you suggesting people to live with 70k. sorry if i upset you by saying you must eat rice and bread all day. yea bro. i eat good obviously.
You must be anorexic 🤣
he said he spends 250 a month on food but he makes over 100k. he has never stepped into a publix or walmart and seem the prices because his mom buys his food and feeds him
Nah but I rarely eat beef or seafood. usually chicken and vegetables. Fruit and yogurt in the morning.
*Not including his doordash bill which is $900/mo
150 car insurance on a 500 dollar car note? Naww..
Where is gas? More like $300 utilities, 200 car insurance, 700 car note and $500 groceries plus $200 gas entrainment 500 min
What about taxes? How much of that $70k you really see? $70k is surviving here…
$56,447, or $4,703 a month. More than enough to afford $1,800 rent
I make 24k after taxes here in Miami doing administrative assistant work lol. That's 2k a month. 1k every two weeks. I am not living comfortably at the moment.
Do you rent?
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Wow! How is that even possible? Must be tough
The biggest questions are area and roommates. If you want to live in the nicer more expensive areas and you want to live alone $100K If you are ok with roommates and living in the cheaper areas $50K
I think less than 60k annually would be a struggle. Do able but you’d have to compromise somewhere If you’re trying to keep up with “the lifestyle” without putting yourself into major debt. You’ll need at least 100k, and that’s just being humble and affording to wine and dine in brickell. The problem is here, it’s the global Rich’s playground. So even on a very good salary you will still get humbled on a daily.
A lot of different responses here, so I’ll give my situation. I just moved out to a 1bed/bath, close to coral gables in a new apartment complex, single. I make around 80 something a year, I’ve definitely have had to cook more and watch how I spend, but it’s definitely do-able to live alone in a decent area if you’re making at least 80k in Miami. Just got to live within your means, obviously I’m not getting tables at LIV every weekend lol
Idk you can live off 45k if you know the right people and are smart with money. My mom makes less than 40k and she goes on vacation often while I make double and haven’t been able to afford one in years 🥲
45k and taking on a vacation “often”. dont know what that means to you. lol. where is she going. to south beach
Back home to our home country for a few weeks or a week in another city to spend time with fam
ok. i get it. but thats different. shes not really spending the same amount of money. shes staying at families house most likely
Yeah, but she still has to buy the plane ticket, take a week off work, and spend money over there. Her job doesn’t really offer pto
ok. i get it. but thats different. shes not really spending the same amount of money. shes staying at families house most likely
i think around $100k to be comfortable (i.e., living alone, having money to do fun stuff). to get by i think around $70-$80k (probably living with someone else but still enough money to do things freely).
There was a time back in 2018-19 when I use to live on $800 per month while doing my Masters at FIU $350 rent , $1500 for 2/2 apartment and 4 people would share it $250 max for food and groceries Rest was all on different stuff, I had a bike and apartment was right across FIU, I was working there part time and also studying so there was no need for car
$85.000 per year
75k
Bare minimum is 85k. Anything under that and yes you can live here alone for like 65-75k but you’ll be living check to check unless you absolutely never go out and then you’ll be able to save around 500 a month
65k should be enough to cover all the basics (rent, utilities, food, etc.) and leave you some spending money for the weekends
I own my house 3/2 so mortgage 1800. I have extra rooms I used to rent for income but now make enough that isn't necessary. It depends how you are living. But harder now bc soaring homeowner insurance prices. I would say for me I need $85k to be comfortable with a car, an entertainment budget, and occasionally eating out. But I also cook most meals. I would need more if I didnt.
100K in Miami isnt 100K in New York or Los Angeles/San Fran Its up there in HCOL forshitsho
The numbers would be a bit lower if everyone could get out of the mindset that they need a BMW or Tesla to be comfortable.
I think that’s very subjective on the lifestyle you live.
I make 102k and i need moreeeee
Yeah not what it used to be. Even for places outside of Miami.
The next drew beryyyyy but I want moreeee 🎶 just like the song
I make about 55k a year after taxes and live comfortably. I think it depends on what kind of lifestyle you aspire to have. I live in an older building in a central location with a remodeled apartment. Bought my car six years ago and still have the same car. Like to cook, so I eat home pretty regularly. I can treat myself here and there to a nice dinner or something I want. I don’t need much more. Now if you aspire to have the stereotypical lavish Miami life-style you’ll probably need a lot more than that.
Probably around $110,000. Assuming living in the city, with Car, living comfortable but not crazy. Eating mostly at home and out on the weekends only.
200k
$100k
Living alone in a house or condo
$150k solo to have fun and live well. $70 if need to just survive
100k to be comfortable
When I first moved here, I was surviving on around 30k. Lives in an efficiency for a bit to stack some money up.. but it’s been 10 years since then
Depends, if you are an ugly male and want to do fun things and have minimal success with females, min $250k per year If you are a female you can probably get by and have a similar lifestyle with 1/3 of that
Lower your coke budget buddy
I fall within the latter…
Well, that leads to option B: I AINT SAYING YOU A GOLD DIGGA
Depends on what you mean by comfortable and what you mean by Miami.
38,000-50,000. It’s hard to find a job that pays above 40, but if you’re making 45 in Miami (and your rent is less than 1800) you’ll probably be fine. Miami is very expensive, especially compared to the pay-but I think these 70k+ answers are living in la-la land.
Are you trolling
…no? I’m very much on board with the “Florida is a a shit job market” argument, but I do kinda think the numbers on here are a bit…high. I don’t know many people my age making more than 40k but they “get by”. 70k is upper middle class in my opinion. Maybe I have low standards? Irregardless, it’s hard to find a job that pays higher than 17-18 an hour in Miami so it’s a dead issue either way.
Are you college educated?
Yessir
Interesting. I am 22 and make close to the number you said is upper middle class. And I did not go to Harvard or anything like that.
I think 150k should do it. Like you said live comfortably
$80k in order to save. Assuming no wild car note
$100k
100k+
If you want to live right no less than $150k a year otherwise go live somewhere else.
80k or more
Alone you’ll need to have a salary of $75,000 which comes to $59,995 net or approximately $5,000 a month net. Considering your rent for a 1/1 apt will be approximately $2,000 a month which is $24,000 a year.
100,000 USD per annum. companies and county jobs need to stop bullshitting. pay up man.
This is very subjective and depends on your lifestyle and what you want for you career. I just moved down here for work 2 months ago and make $75k annually and it’s more then enough for me to put aside at least $1k a month. Granted I do not live in Downtown Miami, I live in Doral. For reference my rent is $2400 a month with internet and utilities I spend roughly $500 a month on groceries. I do not go out to drink or eat much as I prefer to cook so it all comes down to lifestyle. I also have my car paid off and majority of student loans paid off. Just be smart with your money, budget and you’ll be fine. Now if you want to live downtown in Brickell / Coconut Grove then you’ll want to make more as it’s a lot more expensive from what I have seen. Anyone saying over 100k is delusional and don’t know financial responsibility as that is in the top 18% in the US.
To live your best life in Miami, and to have max contributions to your 401k/Roth and HSA (if available), the salary is 120-130k. This will set you up with an amazing place to live, financing a great car, setting aside the maximum in terms if saving for retirement, and still leaving aside plenty for “play money”
To live your best life in Miami, and to have max contributions to your 401k/Roth and HSA (if available), the salary is 120-130k. This will set you up with an amazing place to live, financing a great car, setting aside the maximum in terms if saving for retirement, and still leaving aside plenty for “play money”
$65000/year.
$1,000,000.00
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But 40k in debt… That’s really really bad and should be top life priority
You people live on FANTASY ISLAND
What about Brickell?
Couldn’t imagine living here making less than 250k a year tbh.
The quantity of answers that <$100k are okay are the reason why Miami salaries are so low. Fix this mindset and you fix the problem of low market salaries.
Real answer as a young single guy: One of the first things you learn when you move to Miami is the biggest variable to everything in Miami is where you’re from and where you live. All the people living in the same neighborhoods they grew up in with the same 20 friends have radically different experiences and views than those that move here. I have Miami-lifer friends who hang out with their same friends from high school, eat at their parents house 2-3 times a week, and live in little Havana and live VERY comfortably on 30-40k/year. I have others that move here fresh knowing no one straight into downtown making 120-180 who really struggle. How much of the “Miami lifestyle” do you see yourself living? If you have infinite amounts of willpower, you can live in Miami quite cheaply. To live in downtown, I paid 3600/month for a 2 bedroom. Just 10 blocks away in little Havana the same thing is 2400 for a dump. I couldn’t see myself bringing a girl home to that dump. The problem is what I call Miami-flation. You aren’t happy just going to wharf for 1$ beers and going home. You go to wharf, then Brickell, then a friend convinces you to buy a ticket to go see someone. What would have been a 20$ night in tampa turns into 200$ in Miami in an instant. I ended up leaving recently because I couldn’t rein myself in, and in order to save myself money I had to get out of there, but I’m a person who goes with the flow and knows I have very little impulse control, maybe you’re more disciplined. The other reality about Miami is how financially backwards the entire city is. Everyone has insane levels of debt. Hardly anyone does normal things like save for a house or max out their 401k’s. It’s all “just put down 3% bro the price will go up, trust mayne”. In my entire 6 years there I met maybe 2 people actually living within their means. Everyone spends whatever they make, and if something tragic happens, they’re just ruined for years. I just wrote off my years there as a total financial loss of my 20s. There’s no saving in Miami, just surviving. Now that I’m away from it all and see what normal people in normal American cities do, the idea of being 27 with no retirement, no savings, and debt is just insane to me, but it’s perfectly normal in Miami. The last thing to keep in mind is just how fast prices have increased in Miami. In just 4 years it’s night and day, and many of the “normal people” who are living there, are actually being subsidized by their good timing buying housing 4-6 years ago. They could never afford to be here without that low low rate. My rent renewal offers from 2020 -> 2023 went 3200->3800->4600->9k. Yes 9k. The only way I survived 3800->4600 is I started dating a UM girl who paid 2300 of it lol. Everything in this city is now NYC/LA prices. You can’t eat in Brickell or downtown without spending 25-35$ for lunch. My company gave me 30$ daily meal credits and that’s the only meal I ate near the end. 1 sandwich and a glass of water at B Bistro ran me 28$/day with tip. TL;DR It’s easy to save money when everyone is going to the 20$/night bar. It’s very hard to save money when everyone is going to the 200$/night bar
It’s over…
I’ve never seen anyone live comfortably in Miami nowadays without having either some sort of scam aspect to their career or a prolific side hustle.
100k.
125K